anneb
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Joined: Mar 10, 2012 17:56:33 GMT -5
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Post by anneb on Mar 10, 2012 20:01:46 GMT -5
I rolled over a 401k to a Vanguard moneymarket account and received a 1099-R form in the mail. When I key the information from the form into the online tax software, it seems to think I received this money as a distribution but I did not. How do I correct it?
Thanks for the advice!
Anne
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Deleted
Joined: Jun 17, 2024 3:23:59 GMT -5
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Post by Deleted on Mar 10, 2012 20:20:58 GMT -5
What code was on the 1099-R?
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anneb
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Post by anneb on Mar 10, 2012 20:34:30 GMT -5
Distribution Code: G
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mwcpa
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Post by mwcpa on Mar 10, 2012 23:31:38 GMT -5
you need to indicate on the "boxed" software the code G in one of their input screens or somehow indicate that it was a "rollover"
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anneb
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Post by anneb on Mar 11, 2012 9:58:22 GMT -5
I'm using taxact.com. I finally found the form that states: "Enter the amount of this distribution, if any, that was rolled over to a traditional IRA, or another qualified retirement plan." and entered the amount there. This seems to have fixed the problem but now I have another problem altogether.
It now shows that I owe 3,545 in Virginia state tax. The W2 I received shows VA and I was paying VA state tax in January and February, then I relocated to Florida in March 2011. This was a work-from-home job so it didn't matter where I was located. They updated my payroll status when I moved so VA tax stopped being deducted from my check.
The tax software does have the option to indicate a move. But I also relocated again from Florida to Pennsylvania in October 2011 for a new job so I have used that option for that move in order to claim moving expenses on the tax return.
How do I indicate that my income from Jan-Feb was in Va and from March-September was in Florida?
Sorry it's so complicated but thanks for the advice.
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mwcpa
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Post by mwcpa on Mar 11, 2012 10:07:22 GMT -5
it's a software issue..... you may need to call the software provider to see how they handle mutliple states and part year residency....
in regards to working from FLA for a VA based job does not mean that VA cannot tax it....you need to check VA law....
sounds like DIY is not the best thing you should be doing given all of the "complications" in 2011 you faced.
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anneb
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Joined: Mar 10, 2012 17:56:33 GMT -5
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Post by anneb on Mar 11, 2012 10:40:00 GMT -5
Yes. I finally figured out how to do multiple state returns but it's getting complicated and now it thinks the 401k rollover goes on the PA state return. I'm searching for local tax services now. I think I'm in over my head! Thanks for the help anyway.
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mwcpa
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Post by mwcpa on Mar 11, 2012 11:13:22 GMT -5
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anneb
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Post by anneb on Mar 11, 2012 11:56:01 GMT -5
Ok. I already found a couple of firms in my office complex that seem to be very reputable from looking at their websites. They do a lot more than just tax returns and will probably charge more than the average H&R Block but it's probably worth it to get more reliable service. Thanks for the assistance!
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